Posts Tagged ‘India’

Steel seems poised to keep on runnin’, keep on hidin’

So say the lyrics immortalized by Spencer Davis, which to some degree show what is wrong with the global steel market — it keeps on running and hiding from its overcapacity.

For global producers to return to 85% utilization rates, 170 million mt of global capacity has to disappear, according to Macquarie Research. To reach headier rates of 90% utilization rates, at which mills can make decent money, the equivalent of Western European and Japanese production (275 million mt) needs to exit the market.

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The Oil Big Five: Already looking at changes for 2016 and beyond

We’re speeding toward the end of 2015, which means that our monthly oil feature, The Oil Big Five, is increasingly focused on topics that could shape the global oil industry into 2016 and beyond.

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Asia drawing better purchase terms for Mideast crude as competition intensifies

There is little doubt that additional crude oil supplies from Iran will intensify competition among Middle Eastern producers, which are already fighting to secure their share of Asia’s dynamic markets against the influx of barrels from western hemisphere suppliers that can no longer rely on the US market.

Tehran’s July 14 nuclear deal with six world powers will eventually lead to additional flows of Iranian oil onto world markets, but oil minister Bijan Zanganeh has already said the thrust of the marketing focus will be on Asia, where Iran has been able to maintain a foothold in the four key consuming countries.

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The Oil Big Five: The second half begins

The beginning of July is the beginning of the second half of the year, and just over the weekend I was looking at a calendar and marveling that we’d arrived here already. We started this feature a little over a year ago, but especially within the past 12 months, the oil industry seems like it’s been taking us all on a roller-coaster ride. On July 1 of last year, for example, Dated Brent was assessed by Platts at $110.46/b, but on July 1 of 2015 it was assessed at $61.67/b. Today, we’re attempting to pull out some highlights from the most recent part of that wild ride.

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Oil demand is recovering, but are we susceptible to irrational exuberance?

The world seems to be using more oil now that it is 40% cheaper than a year ago and especially so in countries enjoying some economic growth momentum.

Depending on who you are listening to, the US, China, India and the Middle East are cited as the main drivers of demand growth in 2015, with consumption in Japan and the Eurozone improving from a low base last year, in line with their economic recovery.

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WGC 2015: How gas hopes to fight back against coal

Visitors from around the world queue expectantly on the Paris streets, waiting to pass through bag searches and metal detectors to enter the show within. No, it’s not the French Open at Roland Garros, but the big event at the other end of town, the 26th edition of the World Gas Conference, taking place in the French capital all this week.

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A tale of two crudes: Nigeria and Angola

Nigeria and Angola,  both situated on the west side of Africa, are two of biggest producers in the region, but the crudes from these two countries have treaded divergent paths in the past year, despite a lot of similarities.

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How the LME’s warehouse reforms have played a key role in the fall of global aluminum premiums

This dramatic fall in global aluminum premia has taken the majority of market participants by surprise. However, there seems to be reluctance among market participants to identify recent London Metal Exchange warehouse reforms as having had much to do with the drop in regional premia.

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The Oil Big Five: Taking stock at the end of Q1

There are a couple months of the year that seem busier than others, and April is one in the oil industry. The first quarter has ended, and many of the editors here at Platts are readying themselves for the slew of earnings calls and reports that will be coming soon. Those quarterly updates can sometimes signal big changes – announcements about new projects, financial doings, production figures, etc. – and we wanted to assess the global oil industry now, in the calm before the storm.

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Coal may burn bright, but which Asian market has the lights left on?

If you are a coal producer focused on the Chinese market, I am sure you will be scratching your head thinking about the future. Ever since China started imposing restrictions on imports, suppliers have gone on a wild hunt for buyers.

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